Credit: The “quality” of the HY corporate debt market (based on the ratings composition) has improved since the financial crisis. Investment-grade debt quality, however, has deteriorated.
Japan: Analysts say that Japanese shares look attractive. But some investors a nervous, given the BoJ’s deep involvement in the market.
Alternatives: Private equity investors have convinced themselves that their returns can’t go below 8% – even at current multiples.
The United States: Economists are forecasting a pickup in US exports amid a weaker US dollar this year.
China: Ahead of the 19th Communist Party Congress, China’s official manufacturing (blue) and nonmanufacturing PMI (white) indices showed a marked improvement. The data from Markit/Caixin, however, paint a less sanguine picture (orange = Markit services PMI, purple = Markit manufacturing PMI).
Equity Markets: Over 62% of investors see the market rising further over the next year.
Food for Thought: Firearms and mass shootings.
Edited by Paul Menestrier
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